Leor Sabet Of The Sabet Group Acquires Mixed-Use Property From Marie France Perugini For $3.3M
325 East 14th Street
$3,300,000
$535/SF
Building Size
6,168 SF
Asset Type
Mixed-use
Closing
Sep 30, 2024
AI
The mixed-use building located at 325 East 14th Street in Gramercy Park, Manhattan was sold for a transaction price of $3,300,000. The property encompasses a total of 6,168 square feet, translating to a price per square foot of $535.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: $3,300,000
- Address: 325 East 14th Street
- Market: Gramercy Park, Manhattan
- Buyer: Leor Sabet - The Sabet Group
- Seller: Marie France Perugini
- Brokers: Craig Waggner, John Ciraulo & Jack Stephen - Cushman & Wakefield
- Square Footage: 6,168
- Price per Square Foot: $535
The transaction was executed swiftly, noted for its rapid contract to close. The brokers involved, Craig Waggner, John Ciraulo, and Jack Stephen from Cushman & Wakefield, highlighted that the building was delivered with vacant commercial spaces on the ground floor and parlor floors, along with one of the three floor-through two-bedroom apartments.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.81%
Cash-on-Cash
-1.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93